Value added tax

The electricity company supplying Southeast Bulgaria EVN made a proposal for the price of the service to rise by 6.98% starting July 1 of 2015 in an official statement.

Accoridng to an analysis made by the company, this would be the minum increase that could ensure the return of the energy system to its normal operation.

By Dimitra Manifava

The reduction in the value-added tax on catering has not only resulted in smaller-than-expected revenue losses for the state coffers, it has also stemmed the flow of restaurant shutdowns and is expected to create thousands of new jobs in the sector.

The state budget’s primary surplus beat expectations by almost a billion euros in the first nine months of the year, General Accounting Office data confirmed on Tuesday, but tax revenues and social security funding figures are causing concern at the Finance Ministry.

2015 budget to be adopted on time - PM

BELGRADE -- Prime Minister Aleksandar Vučić said on Tuesday the 2015 state budget would be "prepared on time, like in previous years."

"Economic parameters of importance to the country "improved in the current and previous months," he added.

BELGRADE - Serbia's Prime Minister Aleksandar Vucic said on Tuesday the 2015 budget would be prepared on time, like in previous years, and that the economic parameters of importance to the country had improved in the current and previous months.

Greater Romania Party's candidate in the November presidential elections Corneliu Vadim Tudor announced the decreeing of the state of emergency in economy, a VAT cut from 24 percent to 10 percent and a cut of the single tax bracket from 16 percent to 10 percent, and a review of the Constitution as the main measures he would take if elected.

An Albanian Ministry of Finance spokesperson told BIRN that a new lottery, aimed at tackling tax evasion, will be "launched officially in April 2015".

Romania continues the paradigm of economic development by the five percent cut to social contributions, prime minister's counsellor Cristian Socol claims.

Fiscal Council skeptical about measures

BELGRADE -- The proposed salary and pension cuts are insufficient and the VAT will have to be increased as a result, Fiscal Council President Pavle Petrović said.

BELGRADE - The proposed salary and pension cuts are insufficient and the VAT will have to be increased as a result, Fiscal Council President Pavle Petrovic said.